Despite the countries economy going through one of the worst recessions in recent memory, the rental market is remaining as strong as ever. This recession has been difficult due to the strain of the housing market collapsing and the banks taking a massive hit, but this has led to a huge increase in the demand for rental property.
Commenting on the upsurge in demand, Ben Hulme, Business Manager said "With the collapse of the housing market, this has led to many properties being snapped up by people with available cash. Some of our Landlords are choosing to extend their portfolios during this period and as a result are reaping the benefits."
So where are the best bargains to be found? Will Rowlands, Business Administrator believes that the best bargains are the ever popular 2 up/2 down, commenting "I recently attended an auction and by far the most popular lots were the 2 bedroom terraced houses. One property was purchased in Rosedale Road in between the parks in Tranmere for £43,000 and although it did require some renovation ie. with a conservative estimate spend of £20,000 the property would still give a return of 9.42% per annum!... much better than any bank!!"
So what do the professionals see for the future?
First and foremost, the rental market will improve and develop even further. The amount of properties on the rental market will stabilize and then over time the rental figures will increase, all be it gradually. On the flip side, house prices will increase and therefore offer chances to sell and gain good percentage yields.
If we can be of any help and offer any advice, we would be more than happy to take your call so get in touch with us today on 0151 644 6974.